Friday, July 13, 2012
FOOTBALL : Rangers to play 2012-13 in Scotland's Division Three
Rangers went into administration last season owing up to £134m to unsecured creditors and will eventually be liquidated - as a result its registrations with the Scottish FA and Scottish Premier League were terminated.
Charles Green led a consortium which bought Rangers' assets for £5.5m and has refromed Rangers as a new company, but the 'newco' did not get the required votes for re-admittance to the SPL - and instead, the new Rangers will start life in Division Three.
Rangers chief executive Green said "We are grateful to be accepted as members of the SFL and accept their decision to vote us into Division Three". Green continued "We made clear we would play where we were told to play and we just want to get back to playing football."